Commvault Systems Inc.'s Chief Financial Officer (CFO), Gary Merrill, has reported several transactions involving the sale of the company's common stock. These details were filed with the Securities and Exchange Commission via a Form 4 filing covering the period ending May 21, 2026.
According to the filings, Mr. Merrill sold a total of 8,331 shares of Commvault Systems common stock, representing an approximate value of $891,527. The sale prices for these shares ranged between $106.70 and $107.391 per share.
Details of Stock Transactions
The sales were structured across multiple dates and purposes. Specifically, on May 22, Mr. Merrill disposed of 3,777 shares at a price point of $107.391 per share. This particular sale was automatically conducted to satisfy tax withholding obligations that arose from the vesting of performance stock.
Later, on May 26, an additional 4,554 shares were sold, each valued at $106.70 per share. This transaction was executed under a pre-established Rule 10b5-1 trading plan, which Mr. Merrill had adopted previously on June 13, 2025.
Prior to these divestments, the record shows that Mr. Merrill acquired 8,599 shares of common stock on May 21, at a nominal cost of $0 per share. These acquisitions were specifically associated with performance stock unit (PSU) awards.
The company itself, which has an overall valuation of $4.46 billion, reported robust operational metrics. Commvault maintains gross profit margins of 81% and achieved revenue growth nearing 19% over the last twelve months.
Analyst Commentary and Market Performance
Beyond the insider activity, recent financial reports for Commvault Systems Inc. provide a positive view of its performance. For the fourth quarter of fiscal 2026, the company exceeded market expectations in both earnings and revenue. The reported earnings per share (EPS) reached $1.28, surpassing the forecasted $1.09. Furthermore, revenue was announced at $312 million, which was higher than the anticipated $306.75 million.
The positive performance has prompted several analysts to adjust their outlooks and price targets. Mizuho increased its price target for Commvault to $130 from a previous level of $115 while reiterating an Outperform rating. This upgrade was attributed to the strong growth in annual recurring revenue (ARR), noting that subscription ARR increased by 24% year-over-year. Similarly, Truist Securities maintained a Buy rating with a price target set at $155, citing both solid fourth-quarter performance and accelerating subscription momentum.
Other firms also weighed in on the stock's potential. Piper Sandler adjusted its price target to $133 from $146, while maintaining an Overweight rating due to what they characterized as a reduced valuation multiple. Furthermore, Wolfe Research initiated coverage of Commvault with a Peerperform rating, emphasizing the company’s established position within the data backup and recovery market.
Summary of Holdings
Following these reported transactions, Gary Merrill's direct holding in Commvault Systems common stock totals 72,775 shares. The information provided also noted that, according to InvestingPro analysis, CVLT appears slightly undervalued at current trading levels, with additional ProTips available for subscribers.
The analyzed data paints a picture of a company showing strong financial health and positive analyst sentiment, even amid reported insider selling activity. These developments provide various perspectives on Commvault’s recent performance and potential future trajectory within the enterprise software sector.